According to the reports, both the tech giants have entered into an agreement worth $2.59 billion, and the time duration of this deal is set for ‘three years‘.

Seems that Apple has decided to move from outdated LCDs for its iPhones and plans to shift towards OLED display panels, which has sharp, vibrant images and also don’t require backlight. OLED costs higher as compared with the previous LCDs and also feature lower life span (as for now).

It is being speculated that the new OLED display will be used for iPhone 7s Plus and future iPhones. Apple has used OLED display on their Apple iWatch as of now, but it appears that the tech giant has chosen to adopt the new display panel for its other product line as well.

Earlier, it was stated that the company is in discussion for the new display production with two smartphones and display manufacturers, Samsung and LG and later on, it finally made a deal with Samsung for the purpose. Let’s wait and hear from both the companies officially. Samsung has been dealing with Apple previously for other purposes, such as manufacturing its smartphone chipsets, which were used in iPhone 4, 4s, 5, 5s so that’s not anything new for the both. Stay tuned for more updates!